Loose sugar was on Wednesday selling in Dhaka markets atTk135 to Tk 140 per kg – much higher than the government-fixed price – citing short supply. On April 8, the government set price at Tk104 per kg for loose sugar and at Tk 109 for packaged sugar. Consumers, however, complained the ceiling hardly worked. In the retail market packaged sugar has hardly been available. And even for the loose sugar the consumers have to pay Tk135 to 140 or per kg, up from Tk120 to 125 a kg last week. On Wednesday, during visits to different markets in the capital this correspondent saw no packaged sugar in the stores. Traders reported no supply of sugar since Eid-ul-Fitr festival late last month. The wholesale companies have failed to deliver citing short supply. Importers blame the short supply on the high price of sugar in international market affecting domestic supply. They are waiting for the government to decide if they would go for import at higher prices. They too have reduced imports due to higher prices. Read more: Sugar price reduced by Tk 3 per kg: Commerce Ministry According to the government agency, Trading Corporation of Bangladesh (TCB), the price of sugar increased by 15 percent in a month while it increased by more than 62 percent in one year. Salmat Sarder of Chadpur Store of Karwan Bazar told UNB that packaged sugar has not been available for a long time. Loose sugar purchased at the wholesale level is more than Tk130 per kg. Still, dealers are not giving purchase receipts.

Europe ended a bad year for inflation with some relief as price gains eased again. While the cost of living is still painfully high, the slowdown is a sign that the worst might be over for weary consumers. The consumer price index for the 19 countries that used the euro currency rose 9.2% in December from a year earlier, the slowest pace since August, the European Union statistics agency Eurostat said Friday. Croatia joined the eurozone on Jan. 1. It was the second straight decline in inflation since June 2021. In November, the rate dipped to 10.1% after peaking at a record 10.6% in the previous month. Households and businesses across Europe have been plagued by surging energy costs since Russia launched its war in Ukraine in February, which played havoc with oil and natural gas markets and have been the main driver of inflation. The latest numbers indicate that the energy crisis may be easing for now. Energy price rises slowed to 25.7%, down from 34.9% in November and 41.5% in October. Natural gas prices have slipped from all-time highs this summer as Europe has largely filled its storage for winter with supplies from other countries while warmer-than-usual weather has reduced fears of a shortage during the heating season. Food price gains, the other big factor that's been driving up European inflation, held fairly steady. Prices for food, alcohol and tobacco rose at a 13.8% annual pace in December, a smidgen higher than the month before. Read more: Europe’s inflation likely hasn’t peaked, says central bank chief Lagarde Inflation also has been worsened by bottlenecks in supplies of raw materials and parts amid rebounding global consumer demand after COVID-19 pandemic restrictions ended. “It is likely that the peak in inflation is behind us now, but far more relevant for the economy and policymakers is whether inflation will structurally trend back to 2% from here on,” said Bert Colijn, senior eurozone economist at ING Bank. So-called core inflation, which excludes volatile food and energy costs, climbed to 5.2% last month from November's 5%, as prices rose for both services and goods such as clothing, appliances, cars and computers. Colijn and other economists said that means European Central Bank officials will likely roll out more interest rate hikes to get inflation back to their 2% target. Soaring costs for energy and food have threatened a recession and fed labor unrest as wages fail to keep pace with the price rises. Across Europe, subway staff, hospital workers, train drivers, postal workers and air traffic controllers have gone on strike, threatening political turmoil. In a sign that energy costs remain a worry for political leaders, French President Emmanuel Macron on Thursday urged energy suppliers to renegotiate what he called “abusive contracts” with small businesses to ensure “reasonable" price hikes. Macron spoke to bakers gathered at the presidential palace for a traditional Epiphany kings cake ceremony, underscoring how energy and food prices are intertwined. “Like you, I’ve had enough of people making excessive profits on the crisis," he said. The French government has capped natural gas and electricity price hikes to 15% this year for consumers and some very small companies that don't use much energy. But more energy-intensive businesses, like bakeries, aren't covered, leaving some of them facing closure because they can't pay their bills. While governments have offered relief on high energy bills, central banks are battling inflation by hiking interest rates. Last month, the European Central Bank raised its benchmark rate by half a point, slowing its record pace of interest rate increases slightly but promising that more hikes are on the way. It matched actions taken by counterparts in the U.S., United Kingdom and elsewhere. Read more: Record inflation puts the squeeze on Eurozone economies “The eurozone economy is at best stagnating, and persistently strong core inflation means the ECB will feel duty bound to press on with its tightening cycle for a while yet,” said Andrew Kenningham, chief Europe economist for Capital Economics.

From now Samsung TVs will be available at the official outlets of Singer. Samsung recently came into an agreement with Singer Bangladesh to provide customers the opportunity to buy Samsung TVs from Singer outlets. A Singer Samsung partnership celebration event took place Thursday at Singer Mega Store in Shewrapara, Dhaka. Read more: Samsung Bangladesh brings new B Series TVs Samsung Bangladesh Country Manager Hwansung Woo and Singer Bangladesh Director and Head of Business (Consumer Electronics Division) Shahriar Bin Lutfor were present, according to a media statement. Woo said: "With this partnership, we are hopeful of strengthening our relationship with Singer as well as making Samsung TV more accessible for our beloved customers." Read More: 10 Smart TVs Under Tk50000 in Bangladesh Fairoz said: "With this new partnership with Singer consumers will be able to get Samsung television at our stores across the country with convenient purchase options such as Singer's unique in-house hire purchase facility."

After submission of a review appeal by state-owned BPDB to raise bulk power tariff, now distribution companies are likely to submit their respective proposals to raise retail power tariff, official sources said. According to a top level source at the Power Division, the Bangladesh Power Development Board (BPDB) will submit its proposal to the Bangladesh Energy Regulatory Commission (BERC) to enhance retail power tariff on Sunday next while other distribution entities will submit their respective proposals within the next week.    State Minister for Power, Energy and Mineral Resources Nasrul Hamid also said that the distribution entities are preparing their proposals to submit to the energy regulator seeking a substantial hike in the electricity tariff at retail level. “Power distribution companies are now working to prepare their proposals…They are calculating the possible impact on any hike in the bulk tariff,” he told UNB. The BPDB sources said the government is expecting that the BERC will announce its decision on the review appeal on bulk tariff on any day in the next week. “We hope, BERC will raise the bulk tariff by at least 20 percent,” said a top official of the BPDB, adding that, considering a possible 20 percent hike, the BPDB is seeking at least 12 percent hike in retail tariff of electricity.    He also said all the distribution companies may submit an identical proposal in consultation with the Power Division where they may seek between 12-16 percent hike in the retail tariff. Read more: Decision on bulk power tariff ‘adjustment’ Thursday The retail power tariff was last raised in March, 2020 by BERC after holding a public hearing. Through an announcement, the BERC had raised the power tariff on a weighted average by 5.3 percent at retail and 8.4 percent at wholesale levels with effect from March 1, 2020. As per that decision, the retail power tariff was increased from Tk 6.77 to Tk 7.13 per unit (each kilowatt-hour) and Tk 4.77 to Tk 5.17 at bulk level. There are six power distribution entities in the country which sells electricity to retail consumers across the country. They are BPDB, Bangladesh Rural Electrification Board (BREB), Dhaka Power Distribution Company Limited (DPDC), Dhaka Electric Supply Company Limited (Desco), Northern Electricity Supply Company PLS (Nesco), West Zone Power Distribution Company Limited (WZPDCL). On the other hand, BPDB is also a single buyer of bulk electricity in the power sector, which itself generates power and also buys electricity in bulk from different power generation companies and sells it to the distribution companies. The distribution entities sell electricity in retail to the consumers. The Power Division is under tremendous pressure from the Finance Ministry to raise power tariff in bulk and retail to cover its huge financial losses. The recent commitment of the International Monetary Fund (IMF) to provide a $4.5 billion loan has increased the pressure as the donor agency has tagged a condition to decrease subsidy in the power sector and raise power tariff to cover the loss, said a Power Division official. Read more: BPDB submits review appeal to raise bulk power tariff Against the backdrop, he said, both the BPDB and distribution entities have initiated a move to place their respective proposals to the BERC to raise power tariff in bulk and retail. The BPDB on November 14 submitted its review appeal to the BERC to raise the bulk power tariff which remains pending for decision. The original proposal was rejected by BERC on October 13 as there was "data ambiguity". In the original proposal placed in May this year, the BPDB sought a rise in bulk power tariffs by 65.57 percent while a technical evaluation committee of BERC recommended a 57.83 percent hike. The BPDB showed that it will require Tk 74,189 crore in revenue to generate 88,993 million kilowatt hours (units) of electricity to supply to the power distribution companies. But if the BPDB sells its electricity at the existing rate of Tk 5.17 per unit, it will have to face a deficit of Tk 30,251 crore in revenue in the calendar year 2022. So, BPDB needs to raise the power tariff by 65.57 percent to Tk 8.56 per unit from Tk 5.17. Sources said the latest calculation reveals that the BPDB’s revenue deficit has further increased to about Tk 48,000 crore following the hike in petroleum fuel prices and also the price of dollars. Read more: Electricity price to remain unchanged for now “Previously we had calculated the dollar exchange rate at Tk 85. But now we have to calculate at Tk 107,, said a top official BPDB on condition of anonymity.  

Prepaid meter recharging of Dhaka Electric Supply Company Limited (Desco) will remain suspended for 50 hours from Thursday night. According to a Desco public notice, all kinds of prepaid meter recharging of its consumers will remain suspended from 9.59 pm on Thursday to 11.59 on Saturday due to technical improvement works. Read:Desco’s underground cabling plan misses JICA deadline for its own fault The Desco requested all its prepaid meter consumers to keep adequate balance in their prepaid meters to ensure uninterrupted power supply during the period and also advised to contact the phone number: 16120 for any requirement. Desco regrets the temporary inconvenience of its consumers. Desco is responsible for power distribution to 400 square kilometers of the Dhaka city’s west, north-west and part of eastern areas including Mirpur, Pallabi, Kafrul, Kalyanpur, Cantonment, Gulshan, Banani, Mohakhali, Uttara, Uttar Khan, Dakshin Khan, Baridhara, Badda, Tongi and Purbachal. Read:Desco to provide smart prepaid meters to all customers by 2023 Among its 10,61,848 consumers, some 5,72,692 consumers use prepaid meters to get the electricity supply.

Tower Companies (TowerCos) can help mobile network operators (MNOs) save up to $10 billion through infrastructure sharing and result in cumulative savings of up to $67 billion for consumers due to affordable 5G connectivity by 2025, according to a study.  Edotco Group, an integrated telecommunications infrastructure services company in Asia, launched the study "Towering Above: Building Tomorrow's Digital Infrastructure in Asia" in collaboration with Roland Berger. The report, launched during a panel discussion featuring edotco, Roland Berger and the International Finance Corporation, explores the critical roles and potential impact of TowerCos across nine key Asian markets – Malaysia, Indonesia, Thailand, Bangladesh, Pakistan, the Philippines, Myanmar, Cambodia and Sri Lanka.  It shows how TowerCos are stimulating sustainable digital connectivity to realise incremental socio-economic benefits for industries, societies and governments, in addition to assessing how key policies and regulatory reform recommendations can unlock such opportunities.  According to the report, digital infrastructure is becoming a critical digital economy enabler, with 5G expected to transform the industry.  TowerCos are now transforming their roles to become digital infrastructure providers, in addition to working closely with industry stakeholders to undertake deeper forms of active infrastructure sharing.  READ:  Carbon emissions dip, at least briefly, in China, study says Not only are these services critical to stimulate development during the aftermath of the Covid-19 pandemic, but such partnerships are also crucial for preparing economies for the 5G era – an age that will further revolutionise network usage and unlock new opportunities while easing the MNOs' investment and deployment challenges. "While MNOs are rapidly expanding their network in low average revenue per user (ARPU) markets such as Asia, they face a significant challenge in keeping their cost per GB under control while striving to meet the industry demands and adhering to regulators' intended policy and regulatory outcomes. These can only be addressed sustainably through a higher degree of infrastructure sharing," Gayan Koralage, director of group strategy at edotco Group, said.  Although Southeast Asia and South Asia are among the fastest-growing sub-regions in terms of average data usage per user, MNOs have not been able to capitalise on the traffic trend here.  This is causing the continuous decline in ARPU, making it challenging for MNOs to generate returns that are commensurate with their cost of capital, according to the report. The study notes that leading TowerCos are poised to assist MNOs by moving up the value chain. Namely, this is by offering innovative 5G-enabled solutions such as OpenRAN, Network-as-a-Service solutions and Edge Computing to help MNOs achieve greater cost and network efficiency.   Forward-looking regulatory reforms and policy changes are needed for TowerCos to realise their potential in the next normal, it says. "These include providing incentives and introducing a more conducive regulatory framework for TowerCos to explore more innovative partnerships and services."

Gas crisis persisted across the country for the second day Monday as Bibiyana gas field failed resume full production. The consumers in many areas in the city and elsewhere complained they are not getting gas which forced them to use an alternative oven to cook their meals in the holy Ramadan. The country’s gas production drastically fell by about 450 MMCFD (million cubic feet per day) on Sunday, the very first day of Ramadan, following a technical fault developed in the Bibiyana gas field. Officials said the gas field process system noticed that sand was coming out from two production wells which forced the authorities concerned to halt the production of the wells. The incident had a big impact on the overall gas production as many areas experienced disruptions following the fall in the pressure of gas supply as an outcome of the fault. Also read: Consumers experiencing shortage, low pressure in gas supply The major impact was on the power generation as the state-owned Bangladesh Power Development Board (BPDB) had to shut down a good number of power plants immediately which led to load shedding at different districts across the country. Both the Chevron and Petrobangla officials were trying to fix the problems as early as possible. But no significant progress was made yet. However, Chevron Bangladesh in a statement said that it is making progress in returning the Bibiyana Gas Plant to full capacity, with production at one of the two process trains affected at the plant and one well in the field resuming Monday. The plant is running at a reduced rate after suspension of operations at two of its two trains and six production wells in the field on April 3 following the discovery of some production anomalies. Also read: Illegal gas connections still in system despite repeated moves: Titas MD Safety of workers, nearby communities and protection of the environment are top priorities for teams working to bring the second train and all remaining wells back online. The cause of the unplanned shutdown will be investigated, it added. Official sources said the country’s gas production was recorded at 2524.4 MMCFD of which Bibiyana was producing 886.9 MMCFD on April 3 while its production capacity is 1200 MMCFD. The BPDB data shows that the operation of over 20 power plants, having a generation capacity of 2069 MW remained closed for gas shortage. Meanwhile, state-owned Petrobangla in a statement said that gas shortage may occur in different parts of the country due to the reduced supply of gas for emergency maintenance work of Chevron-operated Bibiyana gas field. Regretting the people’s temporary inconvenience from the gas shortage, Petrobangla hoped that the gas supply situation would be normalized as soon as possible by completing the maintenance and repair work. Meanwhile, consumers in many areas in the city including Mohammadpur, Shekhertek, Rayerbazar, Dhanmondi, Shankar, Kanthalbagan, Mudhubazar, Kalabagan, Rampura, Wari, Maghbazar, Arambagh, Fakirapul, Banasree, Gopibagh, Mirpur, and Iskatan complained that they are not getting gas for cooking their meals. The low pressure in gas supply also put the CNG-run motor vehicles in problem as the vehicles had to be waiting in long queues for refuelling when the government had rescheduled the operation time of the filling stations. As per the latest order, the CNG stations must be kept closed for 6 hours a day from 5 pm to 11 pm during the holy Ramadan to facilitate gas supply to household consumers and power plants.

Consumers will have to pay a higher price of Tk 226 to buy a 12-kg container of liquefied petroleum gas (LPG) from today (Sunday) as the energy regulator has raised the price to Tk 1,259 from the existing Tk 1,033. In the same ratio, the prices of other quantity containers of LPG will go up while the auto gas will be selling at Tk 58.65 instead of the existing rate of Tk 55.27 per litre. Announcing the new price order, chairman of the Bangladesh Energy Regulatory Commission (BERC) Abdul Jalil said of the enhanced Tk 226, the commission has increased Tk 59 as an overall cost adjustment while the remaining enhancement in the cost was done because of the increased price of Saudi CP. Read:Appeal for LPG price hike: decision on Sunday “Following our public hearing, we’ve reset some of the components in the local value of LPG considering the demands of the private sector operators,” he told reporters while announcing the new price of the fuel at the BERC meeting room on Sunday. Internationally, the Saudi contract price (CP) witnessed a huge hike as each metric ton of LPG was sold at $797 in October while it was $665 in September last, he added. The other members of the BERC were present on the occasion.

Consumers right groups stiffly opposed the operators’ demand for raising the price of liquefied petroleum gas (LPG) as the energy regulator held a public hearing on price re-fixing on Monday. The rights groups urged Bangladesh Energy Regulatory Commission (BERC) to proceed on the issue cautiously to avert litigation in higher court, while the operators insisted on increasing the price further to cover losses in their business.    Both the sides placed their respective arguments during the public hearing held at BIAM Auditorium in the city. Convened by the BERC, it was presided over the commission chairman Abdul Jalil. Other members of the BERC were also attended the hearing. The BERC has been re-fixing the LPG price on monthly basis since April 12 this year. But LPG Operators of Association of Bangladesh (LOAB) oppose the process saying that much of their costs were not calculated and considered in the price fixing that resulted loss in business. LOAB and its members also appealed to the BERC to review the price fixing formula and accommodate all costs in re-fixing the LPG price. Responding to the appeal, the BERC convened the public hearing to discuss the issue in an open meeting.     Advisor of the Consumers Association of Bangladesh (CAB) Prof Shamsul Alam, while placing his arguments at the hearing, alleged that much of the LPG price related information, provided by the operators, lacks accuracy. He said documents show the shipping charge per metric tons of LPG is $69 while the LPG operators are demanding $126 while such charge is about $20 in neighbouring India.     He said the LPG operators are demanding the price of 12-kg LPG at Tk 1381 while it is selling at Tk 1,100. READ: Beximco LPG sings deal with Jamuna Oil to sell LPG at pumps “If a retailer can sell 12-kg LPG at Tk 1100, how could they argue for a price at Tk 1,380?” he raided the question.   He also said public hearing on re-fixing the price of LPG should not be held as there is no scope to entertain the appeal of the LPG operators as the appeal was made beyond the BERC provision. “Concerned provision says any appeal for review a decision should be made within 30 days while the appeal for review was made beyond 30 days”, he added. Head of Marketing of the Bashundhara LPG Jakaria Jalal said there are so many anomalies in the price calculations as many cost were not considered by the BERC while fixing the price. He said distributors’ cost is calculated at Tk 24 per 12-kg LPG while it is Tk 50 for public sector LPG which is a clear discrimination. The LPG Auto Gas Station and Conversion Workshop Owners Association president Mohammad Sirajul Mawla demanded that Auto LPG gas price should be fixed once a year instead of monthly basis at the consumer level. In this case, he urged the BERC to fix the price at Tk 45 per litre. Hasin Parvez, general secretary of the organization, demanded a commission of Tk 8 per litre for the owners of Autogas stations and said the government should encourage this environmentally friendly fuel in every possible way. Eminent economist Prof MM Akash said if the LPG operators do not abide by the BERC rules, the government should go for open market and select the international firms through a competitive bidding process to run the local LPG business. President of Bangladesh Mobile Phone Customers Association Mohiuddin Ahmed said the LPG operators threatened to shut down their business which in no way should be allowable by the BERC. Communist Party of Bangladesh (CPB) leader Ruhin Hossain Prince and Ganasamhati Andolon Chief Coordinator Zonayed Saki also addressed the public hearing. READ: LPG prices to go up again from Sept 1  In the concluding remarks BERC chairman Abdul Jalil requested all stakeholders and participants to submit their additional information and documents by September 19. As per provision, BERC takes 90 days to make its decision on any issue after holding a public hearing.

A Dhaka court on Monday placed  three  people including the owners of virtual outlet e-orange.shop  on a 5-day remand in a fraud case filed over embezzlement of Tk 1,100 crore from consumers. Those remanded are its owner Sonia Mehzabin and her husband Masukur Rahman and Aman Ullah, Chief Operating Officer of e-Orange. Read: Owners of e-orange.shop sent to jail over fraud case The court of Dhaka Metropolitan Magistrate Morshed Al Mamun Bhuiyan passed the order after investigation officer of the case Aminul Islam produced them before  it with a 10-day remand plea. On August 16, an aggrieved customer of E-Orange Md Taherul Islam filed a fraud case with Gulshan police station in presence of 37 other customers who testified against the accused. According to the case, on April 21, Taherul ordered a product from eorgance.shop and paid in advance. But the online shop failed to deliver the product on the promised date. Neither did it return the money. The outlet has posted notice on its Facebook page many times seeking more time from the customers to deliver the products. But the products didn’t come. Read:Travel ban imposed on Evaly chairman, MD Besides, the gift vouchers the company provided to shop in different outlets were also not being honoured. They said the company didn’t pay them their money. Taherul said he filed the case in fear of losing his money after he came to know the company’s ownership had changed hands. Later on Tuesday last, the owner and her husband surrendered before the court seeking bail. Read:Evaly is under ACC probe for alleged misappropriation But, the court of Additional Chief Metropolitan Magistrate Abu Bakar Siddique rejected their bail plea and  sent them behind the bars. Besides, the CEO was arrested from Gulshan area on the evening of August 18. At the time, 24 credit cards, Tk 16 lakh and a car were seized from him.